The FY2016 EPS Estimates for the Sovran Self Storage Inc. (LSI) Reduced by the Jefferies Group

The FY2016 EPS Estimates for the Sovran Self Storage Inc. (LSI) Reduced by the Jefferies Group

Sovran Self Storage Inc. (NYSE:LSI) – Jefferies Group lowered their FY2016 earnings estimates for Sovran Self Storage in a note issued to investors on Tuesday. Jefferies Group analyst G. Hoglund now forecasts that the firm will post earnings per share of $5.19 for the year, down from their prior estimate of $5.30. Jefferies Group also issued estimates for Sovran Self Storage’s Q4 2016 earnings at $1.30 EPS, FY2017 earnings at $5.60 EPS and FY2018 earnings at $6.10 EPS.

Other equities analysts also recently issued research reports about the company. Citigroup Inc. upgraded Sovran Self Storage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $105.00 in a research note on Friday, September 9th. BMO Capital Markets reiterated a “buy” rating and set a $96.00 price target on shares of Sovran Self Storage in a research note on Thursday, November 3rd. Cantor Fitzgerald set a $108.00 price target on Sovran Self Storage and gave the company a “buy” rating in a research note on Wednesday, November 2nd. Zacks Investment Research upgraded Sovran Self Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, DA Davidson reiterated a “hold” rating on shares of Sovran Self Storage in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Sovran Self Storage presently has a consensus rating of “Hold” and an average target price of $104.50.

Sovran Self Storage (NYSE:LSI) traded down 0.19% during trading on Friday, hitting $82.36. The stock had a trading volume of 154,637 shares. The firm has a market capitalization of $3.80 billion, a PE ratio of 34.68 and a beta of 0.59. Sovran Self Storage has a 1-year low of $77.00 and a 1-year high of $118.18. The firm has a 50 day moving average price of $82.25 and a 200-day moving average price of $91.65.

Sovran Self Storage (NYSE:LSI) last posted its earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.34 EPS for the quarter, beating the consensus estimate of $0.14 by $1.20. Sovran Self Storage had a return on equity of 5.62% and a net margin of 22.63%. The company had revenue of $127.80 million for the quarter, compared to the consensus estimate of $122.29 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis.

In other Sovran Self Storage news, Director Stephen R. Rusmisel bought 500 shares of the stock in a transaction on Friday, November 11th. The shares were acquired at an average price of $81.51 per share, with a total value of $40,755.00. Following the acquisition, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $384,075.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arthur L. Havener, Jr. bought 2,724 shares of the stock in a transaction on Friday, November 18th. The shares were acquired at an average cost of $79.55 per share, for a total transaction of $216,694.20. Following the acquisition, the director now directly owns 5,639 shares in the company, valued at $448,582.45. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of LSI. Wells Fargo & Company MN acquired a new stake in shares of Sovran Self Storage during the third quarter worth about $5,675,000. Teacher Retirement System of Texas acquired a new stake in shares of Sovran Self Storage during the third quarter worth about $10,072,000. Bank of New York Mellon Corp acquired a new stake in shares of Sovran Self Storage during the third quarter worth about $107,762,000. JPMorgan Chase & Co. acquired a new stake in shares of Sovran Self Storage during the third quarter worth about $81,304,000. Finally, M&T Bank Corp acquired a new stake in shares of Sovran Self Storage during the third quarter worth about $590,000. 91.49% of the stock is currently owned by institutional investors and hedge funds.

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